VANCOUVER, British Columbia--(BUSINESS WIRE)--iData Research, a global consulting and market research firm, just announced the publication of new research in the orthopedic device market. While the two markets are interrelated, iData studies these markets individually. There is an estimated 20% overlap between the trauma devices market and the small bone and joint market, which generally revolves around elective procedures.
The Trauma Devices Market is Driven by New Technology
According to iData’s latest research, the 2019 trauma devices market is estimated to be over $6 billion and is expected to grow another $630 million by 2022, with the U.S. and European markets leading the way at an estimated combined value of $4.5 billion. The largest overall segment is the U.S. plate and screw market, which has an estimated 2019 value of $1.2 billion. This market segment is also the most prevalent within the Japanese and Chinese markets.
Several factors are driving growth in the trauma devices market, such as aging population, various technological advancements, the roles these devices play in essential surgery, and increasingly positive results in clinical trials. Overall, the top player in this market is DePuy Synthes, capturing significant revenue from its extensive line of intramedullary nailing systems in addition to providing popular options for plates and screws. The company is competing mainly with Stryker, Zimmer Biomet, and Smith & Nephew, although leads with over one-third of the market share in the U.S.
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Small Bone and Joint Device Market is Driven by its Product Diversity and Increasing Diabetes Prevalence
The 2019 small joint market’s estimated value is $3.5 billion, which again, overlaps slightly with trauma devices. The U.S. region is also the largest in this market, with an estimated 2019 value of $2.7 billion. The largest segment of this market is the shoulder reconstruction device market, making up nearly half of the U.S. small joint device market.
Ample product diversity and a wide range of technological advancements will drive growth in the global small bone and joint market. The aging population globally, and the increasing diabetes prevalence in the U.S. and European markets will lead to more small joint conditions and injuries, driving growth over the forecast period. As of 2018, DePuy Synthes was the global market leader, but trailed behind Wright Medical by a small margin in the United States.
Request a free sample of our U.S. Orthopedic Small Joint Market Research
For Further Information
More insights like this can be found in the latest reports by iData. Email us at info@idataresearch.net or register online for a brochure and synopsis.
About iData
iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.
